Have you been thinking about adding a furry friend to your family? But have you really figured it out, the cost of getting a dog can be much higher than you think?
A new report from financial product comparison website HelloSafe reveals just how expensive it is to get a dog.
The report reads:
Source: blogto
HelloSafe found that the average cost of dog ownership in Canada has risen by 23.3% in three years, from $2,450 in 2021 to $3,020 in 2024.
Of course, the cost of getting a dog will vary depending on the type of furry child you have, with the average annual cost ranging from $2,595 CAD for a small dog breed to $4,605 CAD for a large dog breed.
Source: HelloSafe
"This trend is likely to reflect broader economic factors, such as inflation and increased demand for pet-related products and services," the report states. ”
"In addition, it is also a sign that people are starting to shift to higher quality pet care, and owners will invest more in their pets' health. ”
HelloSafe said the trend of rising costs has important implications for current and future dog owners, highlighting the need for prudent financial planning when it comes to pet care.
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The report also analyzes which expenses might break the bank, depending on the kind of dog you have.
The biggest difference, the report said, was in food expenditure, with the largest breed of dogs costing significantly more ($2,640) than the smallest breed ($525).
"This difference is mainly due to the greater quantity and quality of food required by large dog breeds," the report reads. This means that when deciding whether or not to have a pet, you need to calculate how much you might spend on food in the future. ”
Source: Taken by 51 reporters
Veterinary care is the next major expense with a large cost variety.
According to HelloSafe, regular visits to the vet for large pets ($500) cost twice as much as for small pets ($250).
Source: HelloSafe
"This may be because the health care needs of large dog breeds are more complex and often require more resources and specialized care from veterinarians," the report reads. ”
The cost of dog ownershipIn addition to the general cost of dog ownership, the report also states that Canadians who want to get a furry pet need to be prepared for a considerable initial expense.
"In fact, in the first three months after buying a dog, it is essential to invest heavily in equipment, health precautions and other miscellaneous expenses," HelloSafe explains. ”
The report estimates that if you buy a dog in January 2024, the initial cost is $2,580, with a breakdown of the costs as follows.
Source: HelloSafe
The cost of dog ownershipAs the cost of living crisis intensifies, many Canadians struggle to afford even daily necessities, let alone housing, so it's helpful to factor in these dog ownership costs.